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Feb 15, 2024

The Power Of Gamification In Loyalty

Posted by : the ENTERTAINER Admin

The gaming industry is one of the most rapidly growing industries in the world. It's currently worth hundreds of billions of dollars a year and by 2026 it will be worth approximately $321 billion. 
 

After millions of individuals picked up their controllers to escape the boredom and solitude of COVID-19 lockdowns, social and casual gaming is now driving the expansion.  

Gamification is crucial if you want to develop a loyalty program or improve an existing one to drive long-term retention and revenue. If the right strategy is used, gamification can:   

  • Reinforce the brand’s value.  

  • Build a positive emotional connection between the user and the brand.   

  • Increase customer engagement through instant gratification.  

What are the gaps in loyalty programs?  

The majority of customer loyalty programs available today lack the transparency and engagement necessary to offer consumers experiences that are both relevant and meaningful. The reality is that the very initiatives that are designed to boost such metrics are actually having a significantly negative impact on businesses' revenue and customer retention figures.  

The set-it-and-forget-it nature of today's loyalty programs, along with their lack of personalization and unclear directives, prevent them from generating the type of consumer engagement that may influence the success of their brands. Here’s where gamification comes in handy!   

Why should you incorporate gamification into your loyalty program?  

Gamification increases engagement when integrated properly into your loyalty program, which ultimately boosts revenue and Customer Lifetime Value (CLV). Additionally, customers are more willing to share insights with you if you provide them with a personalized experience. There are plenty of benefits that you can reap from if you decide to incorporate gamification into your loyalty program, such as:  

  • You may achieve loyalty program performance targets more rapidly when a successful gamification campaign is in place as it includes a steady, real-time stream of insights.   

  • The data gathered during the process can improve your understanding of your customer and their motivations. This can help you create more personalized experiences for the user by providing them with custom content.  

  • Customers are incentivized to repeatedly engage with the brand and redeem rewards if the experience is built around them and their interests.   

Is your gamification strategy successful?   

After you’ve created a gamified loyalty program, keep an eye on these metrics as proof of its success:  

  • Social media activity.   

  • The completed engagement tasks within the game.  

  • Number of referrals.  

  • Number of website visits.   

  • Annual spending total and average order value.  

  • Purchase frequency: Online and in-store.  

If you’re looking to enhance your current loyalty program or build a new one from scratch -consult with one of our loyalty marketing experts today to get more information.   

For press inquiries, please contact: 

Penny McNmara, Head of Marketing

Mobile:  +971 58 590 1510

Email: [email protected]

Website: www.theentertainerme.com

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